A wild day of trading saw the Dow Jones peek into the green in late afternoon trading after falling as much as 2.1% earlier in the Friday session.
The Nasdaq and S&P 500 fell 1.3% and 0.8%, respectively, while the Dow finished the day down 0.56%.
Car Prices Climb Even as Sales Decline
Car companies across the board experienced double digit declines in sales in July, but car prices are likely to be high over the Labor Day weekend, a reversal from a traditional period for discounts on vehicles, the Wall Street Journal reported.
The average price of a vehicle is up 4.31% year over year and 4.61% over the last 30 days, according to price tracker CarGurus.
California to Get Energy Relief Amid Record-Breaking Heat Wave
California Governor Gavin Newsom signed an emergency proclamation that will let power plants generate more power as a record-breaking heat wave is expected to raise temperatures in the region between Oregon and Arizona.
Last month the California Independent System Operator instituted rolling blackouts affecting as many as 3.3 million homes and businesses in order to reduce pressure on the energy grid.
Americans Flock to Florida for Labor Day Despite High Covid Count
Millions of Americans are expected to travel over the Labor Day weekend even as overall Labor Day flight bookings are down to about a third of what they were a year ago, before the coronavirus pandemic.
"Florida is this year's hot spot," travel itinerary app TripIt said, according to ABC News. Reservations to Florida have jumped 200% year over year even as the state has the second highest total number of coronavirus cases in the country.